Titolo completo
The Reshaping of the European Economic Sovereignty
The European Union is reshaping its approach to economic sovereignty in response to an evolving geopolitical context. The erosion of the multilateral system and growing economic fragmentation expose weaknesses in its economic model, primarily oriented toward economic efficiency and securing cheaper supplies. This approach often underestimates security risks and external dependencies, especially in the clean and digital sectors. Therefore, the pursuit of “open strategic autonomy” – connected to strengthening economic sovereignty – has become more urgent. The EU has developed a set of reactive measures, including the Anti-Coercion Instrument, tariffs on Chinese electric vehicles, the Carbon Border Adjustment Mechanism and the Regulation on the control of foreign direct investment. Other proactive measures include the Chips Act, the Net-Zero Industry Act, the Critical Raw Materials Act and the Industrial Accelerator Act. Reshaping Europe’s economic sovereignty will, however, require larger governance solutions, addressing structural constraints affecting member states and EU institutions.
2. The EU’s response: three strategic pillars
3. The reactive measures
3.1 The Anti-Coercion Instrument
3.2 Tariffs on Chinese BEVs
3.3 CBAM
3.4 FDI screening, export controls and outbound investment screening
4. The proactive measures
4.1 EU Chips Act
4.2 The Net-Zero Industry Act and the Industrial Accelerator Act
4.3 The Critical Raw Materials Act and the ResourceEU Plan
4.4 Trade agreements
5. Towards integrated economic security governance?
6. Conclusion: And yet it moves!
